Bernie Sanders might just be the dumbest politician in America, right after AOC of course. She’s omega level retarded!
The guy has praised every communist and socialist shithole on the planet! Now he claims he didn’t, there is tape of you saying this dummy! Now he praises Scandinavia, calls it democratic socialism. Most Scandinavian countries rank higher on economic freedom index than the US. Sweden has a 22% corporate tax rate, until recently the US corporate tax rate was 35%.
Let me give you an example of how stupid he really is. Recently, he tried getting traction for a bill to cap credit card interest at 15%. Mind you my interest rate is around 15% and I’m in the excellent credit category.
So let’s say he can cap CC interest rate, all the people currently with high rates would lose their ability to borrow money entirely. Reason being is the CC companies don’t pull these rates out of their ass. It’s based on a formula consisting of the borrowers income and their current credit rating. It’s a risk reward calculation, so the credit card companies have determined that this person will generate them income around this rate, if it’s less they lose money and if it’s higher again they lose money (borrowers are less likely to borrow if rates are too high).
The CC companies lend money to make money charging interest, they don’t do it out of the kindness of their hearts. So if CC were to lend to high risk borrowers at the capped rate of 15% they’d most definitely lose a shit ton of money! So they just won’t lend to them at all. Who’s going to make them a deranged old socialist lunatic?
I get it, this dumb ass thinks he’s helping. Only problem is he’s going to help these high risk borrowers, right out of the credit card market entirely! Better to have bad terms, than no terms.
This is the case with every leftist or liberal I know, they don’t think anything through, they don’t play out the tape. These are the same people who shout “raise the minimum wage!” Only thing raising the minimum wage does is increase the cost of goods & services, costs workers their jobs (when employers now have to cut costs), reduces workers hours (again cutting costs) and puts owners out of business entirely (paying employees is the highest expense for most businesses).
